Lưu trữ cho từ khóa: Wormhole

Công nghệ

Dragonfly-backed Agora to use Wormhole for AUSD cross-chain expansion

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Stablecoin issuer Agora has selected Wormhole as the interoperability hub for its stablecoin AUSD.

Crypto startup Agora, which raised millions in funding led by Dragonfly, has picked the cross-chain protocol Wormhole as its core interoperability provider for AUSD to expand the stablecoin across multiple blockchain networks.

In a blog announcement on Wednesday, Oct. 9, Wormhole said that AUSD, which is currently operational on Ethereum, Avalanche, and Sui, aims to expand across all other blockchain networks (e.g. Solana, Aptos, Arbitrum, Base, and BNB Chain among others).

With the partnership, Agora hopes to reduce liquidity fragmentation by leveraging Wormhole’s non-transferable token framework to preserve the intrinsic properties of tokens on different chains. The integration also aims to lower transaction costs and improve transparency as AUSD prepares for future expansion, with Solana being the next target.

Agora’s CEO and co-founder Nick van Eck praised the collaboration, saying it “reduces barriers standing in the way of accessing, transferring, and using AUSD.”

Issued by Agora, AUSD is a centralized stablecoin, backed 1:1 by U.S. dollars and managed by finance giant VanEck. The announcement comes as Wormhole continues to gain traction with institutional players following its partnership with Securitize, which expanded multichain functionality to tokenized treasury bills.

Launched in 2024 by Nick van Eck, Drake Evans, and Joe McGrady, Agora aims to build an open and inclusive stablecoin network. In April, the startup raised $12 million in funding led by Dragonfly to fuel its stablecoin platform launch, emphasizing regulatory compliance.

The funding round saw participation from other prominent investors, including Wintermute Ventures, Galaxy, and Consensys.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Wormhole token soars 20% in 24 hour trading after Upbit listing

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Wormhole’s token went up by 20% after South Korean cryptocurrency exchange Upbit announced that the W token has been listed for trading on the KRW, BTC, and USDT markets.

According to data on CoinGecko, the Wormhole’s (W) token’s price surged above 20% after news of Upbit’s listing. At the time of writing, W is exchanging hands at $0.38, jumping from its previous price of $0.32. The W token has a market cap of $935 million and a total value locked of $3.2 billion.

On Oct. 2, South Korea’s largest exchange Upbit announced that it has launched Wormhole for spot trading pairs with Korean Won, Bitcoin and Tether at 18:00 UTC+8.

According to the Upbit’s release, the exchange will facilitate trading for Wormhole with sell orders at prices less than 10% of the previous day’s closing price and are restricted for approximately five minutes after trading support.

Wormhole first launched its W token as a native token on Solana and has since been listed on a number of various crypto exchanges including Binance and Kraken.

Wormhole recently launched Era3 which sets a new standard for cross-chain interoperability, making it easier for apps, tokens, networks, and institutions to go multichain. According to their website, Wormhole Era3 is the next step for connecting all crypto and bringing traditional finance on-chain.

On June 3, the protocol unveiled its governance staking feature for W token holders. The feature would allow W token holders to stake their tokens to participate in governance decisions. This helps in promoting a more decentralized and community-driven management structure.

Wormhole is a message passing protocol that connects various blockchains. It utilizes the Guardian Network for off-chain message delivery and verification, and uses its own message verification system.

Wormhole offers developers access to liquidity and users of over 30 blockchains. It has been utilized in the fields of DeFi, NFTs, governance staking, and more.

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Theo Crypto News

DeFi

Wormhole unveils new governance staking feature, W token rises 12%

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Wormhole’s governance token, W, has experienced a significant surge of 12% following the introduction of a new staking feature. 

At the time of writing, the W token was exchanging hands at .7113, up 12% in the last 24 hours. In the same timeframe, the crypto asset also witnessed a trading volume of 5 million, per data from CoinMarketCap. Its market cap stood at .25 billion.

W 24-hour price chart | Source: CoinMarketCap

Wormhole (W) is a cross-chain messaging protocol that facilitates the transfer of assets and data across different blockchain networks.

In a June 6 X post, the Wormhole team revealed the launch of the “Stake for Governance” feature for W token holders. The new functionality allows W token holders to stake their tokens to participate in governance decisions. This helps in promoting a more decentralized and community-driven management structure.

Dan Reecer, co-founder of Wormhole Foundation, also took to X on the same day to provide additional details on the significance of this launch. He explained that of the staking feature marks the first step in the W staking roadmap, introducing the industry’s first multichain governance system, MultiGov.

W token holders can now delegate their tokens either to themselves or to a chosen delegate, enabling a seamless multichain experience for voting and delegating in any DAO.

Reecer also noted that MultiGov, developed in collaboration with Tally and ScopeLift, allows users to delegate and vote from any connected Layer 2 network and, soon, Solana.

Tally is a governance platform that helps DAOs manage their proposals and voting. On the other hand, ScopeLift is a development team that focuses on building tools for decentralized governance.

Unlike other protocols, such as Uniswap, which hosts its governance on the Ethereum mainnet, MultiGov offers a more convenient and cost-effective solution for users across different chains. The innovation aims to provide a truly multichain experience and chain abstraction.

For those looking to stake for governance, users can head to the Tally Governance Portal. There, they can transfer their W tokens from Solana to a supported EVM chain, such as Ethereum, Arbitrum, Optimism, or Base.

Once transferred, users can choose a delegate and stake their W tokens for governance.

Additionally, Wormhole has implemented a daily transfer limit of 100 million W tokens from Solana (SOL) to EVM chains to ensure security.

The next steps for Wormhole governance include completing and auditing the Solana integration into MultiGov. After that, the acceptance of proposals and the beginning of voting will follow.

Wormhole’s efforts to expand the reach of the W token are evident in its recent listing on Robinhood, a major cryptocurrency exchange. The W token is now available to trade with European customers on the platform. Additionally, investment firm Multicoin Capital revealed in an April 3 blog post that it had co-led a 5 million funding round in Wormhole last year.

According to analysts at Invezz, the Wormhole token has surged from .513 on May 14 to over .718, breaking past key resistance at .70.

Despite trading above the 50-period and 25-period moving averages, it has formed a rising broadening wedge, a bearish pattern. This puts the token at risk of a reversal down to .60, the analysts noted.

Meanwhile, a trader known as Degen_Maximum sees the potential for the W token to double in value in the short term, adding an optimistic twist to its recent performance.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News